Norges Bank Invests $13.07 Million in ESCO Technologies Inc. (NYSE:ESE)

Norges Bank bought a new position in ESCO Technologies Inc. (NYSE:ESE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 98,089 shares of the scientific and technical instruments company's stock, valued at approximately $13,066,000. Norges Bank owned about 0.38% of ESCO Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. bought a new position in shares of ESCO Technologies in the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp increased its holdings in shares of ESCO Technologies by 747.1% in the 4th quarter. Jones Financial Companies Lllp now owns 288 shares of the scientific and technical instruments company's stock worth $38,000 after buying an additional 254 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of ESCO Technologies by 378.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 565 shares of the scientific and technical instruments company's stock valued at $75,000 after buying an additional 447 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of ESCO Technologies by 21.7% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the scientific and technical instruments company's stock worth $76,000 after acquiring an additional 102 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in ESCO Technologies by 287.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 775 shares of the scientific and technical instruments company's stock worth $103,000 after acquiring an additional 575 shares in the last quarter. Institutional investors own 95.70% of the company's stock.

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ESCO Technologies Price Performance

Shares of NYSE ESE traded up $3.94 during mid-day trading on Friday, reaching $150.94. The company's stock had a trading volume of 139,154 shares, compared to its average volume of 129,062. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.35. ESCO Technologies Inc. has a 52 week low of $97.11 and a 52 week high of $171.28. The stock has a fifty day moving average of $157.37 and a two-hundred day moving average of $142.68. The firm has a market capitalization of $3.90 billion, a PE ratio of 35.43 and a beta of 1.07.

ESCO Technologies (NYSE:ESE - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The scientific and technical instruments company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.73 by $0.34. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. As a group, sell-side analysts anticipate that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.

ESCO Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Wednesday, April 2nd will be given a $0.08 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.21%. ESCO Technologies's dividend payout ratio is currently 7.51%.

Analysts Set New Price Targets

ESE has been the subject of several research reports. Benchmark upped their target price on ESCO Technologies from $150.00 to $190.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. StockNews.com cut shares of ESCO Technologies from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Stephens restated an "overweight" rating and set a $175.00 price target on shares of ESCO Technologies in a research report on Thursday, February 27th.

ESCO Technologies Company Profile

ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through three segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. The Aerospace & Defense segment designs and manufactures filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications; filter mechanisms used in micro-propulsion devices for satellites; and custom designed filters for manned aircraft and submarines.